Stock Market & Financial Investment News

NY Regulator cooperation crucial to deals with BNP, Credit Suisse, WSJ saysProsecutors have privately expressed concerns that New York's banking regulator Benjamin Lawsky could complicate the process of potential deals with BNP Paribas (BNPQY) and Credit Suisse (CS), reports the Wall Street Journal. According to several people familiar with the matter, Lawsky's cooperation is "crucial" if the state and federal prosecutors hope to agree to settlements with the banks that would require the banks to plead guilty to crimes. Lawsky could potentially strip the banks of their licenses to operate if they enter guilty pleas. Reference Link

Samson Resources plans to file for bankruptcy protection, NY Post reportsSamson Resources plans to file for bankruptcy protection "within days," the New York Post reports. KKR (KKR) is slated to lose its approximately $2B investment in the firm, the report says. Cerberus Capital Management, Silver Point Capital, and Credit Suisse (CS) are among the second-lien lenders that hold roughly $1B in debt and will take over Samson in exchange for their loans as part of a prepackaged bankruptcy, the report says. Reference Link

Case against Credit Suisse over 'dark pools' prepped by NY AG, Fox Business saysNew York Attorney General Eric Schneiderman is readying to bring a civil case against Credit Suisse over high-frequency trading abuses through its Crossfinder “dark pools,” according to Fox Business' Charlie Gasparino. Reference Link